LG confirmed plans for a mobile payments solution to almost a year ago, but the company’s promised LG Pay still hasn’t materialized. Now a new report claims the service and its physical “White Card” have hit a roadblock and won’t launch until 2017.
Korean site News1 reveals that LG ran into issues developing the White Card, a smart credit card similar to Coin. The company apparently hasn’t even filed for regulatory approval yet. It encountered an “error in the testing process,” according to a credit card company official.
LG’s White Card would be able to connect to your smartphone over NFC and store multiple debit and credit card accounts. It’s also set to feature a magnetic strip and chip technology, making it possible to pay almost anywhere. An earlier report claimed the LG Pay card would even work at ATMs thanks to an extra layer of security.
The company had apparently planned to launch LG Pay alongside the new LG V20. It’s possible the White Card could be finished in time for the LG G6, which is expected early next year, but based on the latest news, it sounds like it could be a while before the mobile payments service is ready for primetime.